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§ 3-12C-818 Calculation of disability benefits for foundation members.

SD Codified L § 3-12C-818 (2019) (N/A)
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3-12C-818. Calculation of disability benefits for foundation members. The disability benefit approved pursuant to § 3-12C-817 is the greater of the following calculations:

(1) Twenty-five percent of the foundation member's final average compensation at the date of disability; or

(2) The foundation member's unreduced accrued retirement benefit at the date of disability.

The disability benefit shall be paid in monthly installments for the life of the foundation member unless the benefit terminates pursuant to § 3-12C-822.

For purposes of determining the eligibility of a surviving spouse benefit, the disability benefit of a foundation member is considered a retirement benefit when the member attains normal retirement age.

Source: SL 2014, ch 20, § 7; SL 2015, ch 26, § 2; SL 2016, ch 32, § 49; SDCL § 3-12-207; SL 2019, ch 22, § 1.

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§ 3-12C-817 Notice of approval of disability benefits--Commencement of benefits.
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